Fund managers entering Model 2 jurisdictions face complex FATCA obligations—from due diligence and onboarding to IRS reporting and re-certification. This guide breaks down key requirements, responsibilities, and deadlines to help funds establish a compliant and efficient FATCA program.
The OBBBA enhances ABLE accounts and refines rules for claiming the Premium Tax Credit, expanding savings opportunities for individuals with disabilities. Beginning in 2026, these updates will make long-term financial planning more accessible while requiring closer coordination with the health insurance marketplace.
The OBBBA introduces the most significant upgrade to the Adoption Tax Credit in years, making part of the credit refundable and expanding access for more families. These enhancements reduce financial barriers and reinforce long-term support for child welfare and family stability.
New limits on wagering loss deductions and the permanent removal of moving expense deductions under the OBBBA are reshaping key areas of tax planning. These changes affect both taxpayers and employers, highlighting the importance of proactive strategies and careful tax planning.
The One Big Beautiful Bill Act (OBBBA) updates charitable giving rules by making the 60% deduction ceiling permanent, introducing a universal deduction for non-itemizers, and adding new incentives for scholarship donations starting in 2026. These changes expand access to tax benefits for donors while encouraging more intentional and strategic charitable giving.
The One Big Beautiful Bill Act (OBBBA) significantly broadens how families can use 529 education savings plans—covering K–12, homeschooling, and career training expenses. These updates give parents and students greater flexibility to align long-term savings with today’s diverse education and career paths.
Updates to the American Opportunity and Lifetime Learning Credits under the OBBBA modernize education-related tax benefits. Increased refund limits, expanded eligibility, and inclusion of digital learning expenses make these credits more inclusive and practical for today’s learners.
Under the OBBBA, taxpayers purchasing new, U.S.-assembled vehicles can deduct up to $10,000 in car loan interest annually from 2025 through 2028. This new provision encourages both smarter financial planning and stronger domestic vehicle production.
The One Big Beautiful Bill Act (OBBBA) permanently sets the mortgage interest deduction limit at $750,000 and expands the deduction to include qualified mortgage insurance. Understanding these changes can help homeowners make smarter tax planning decisions.
As Basswood Counsel marks its first anniversary, we reflect on a year of growth, collaboration, and deep gratitude—for our clients, our team, and the community that believed in our vision. In building a firm from the ground up, we’ve remained committed to delivering big law quality with boutique attention, and to being true partners in your business journey.
The U.S. is fast-tracking its crypto regulation under the Trump Administration and SEC Chairman Paul Atkins, moving from enforcement to strategic clarity. With the GENIUS and CLARITY Acts, America is positioning itself as the global crypto capital through a coordinated federal approach to innovation and investor protection.
The U.S. is fast-tracking its crypto regulation under the Trump Administration and SEC Chairman Paul Atkins, moving from enforcement to strategic clarity. With the GENIUS and CLARITY Acts, America is positioning itself as the global crypto capital through a coordinated federal approach to innovation and investor protection.
Recent U.S. tariff changes are sending ripples across international markets, prompting businesses to reassess global trade strategies. Learn how these policies affect prices, supply chains, and tax planning opportunities.
